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February 22, 2021

Australian rice grower SunRice warns of possible sales pressure

SunRice Group, an Australia-based rice grower, has warned disruption to shipping traffic linked to coronavirus could hurt its sales this year.

By Dean Best

SunRice Group, an Australia-based rice grower, has warned disruption to shipping traffic linked to coronavirus could impact its sales in the second half of the fiscal year, exacerbating what it says are already “difficult market conditions” driven by the pandemic.

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Publicly-listed SunRice explained in an exchange filing: “While economic conditions in key markets remain depressed, primarily due to the global Covid-19 pandemic, there have also been a range of increased disruptions due to the latest shipping industry dynamics.

“These disruptions have the potential to delay or prevent planned sales, which could impact revenue and financial performance in the second half of the financial year.”

In the most recent full fiscal year ended on 30 April, SunRice reported a drop in revenues and profits. The former declined 5% to AUD1.13bn (US$893.8m today), while net profit after tax dropped 31% to AUD22.7m.

SunRice put the shipping issues down to increased freight costs, demand for space and containers and scheduling problems in what it described as an “evolving situation”.

Despite the issues around shipping, SunRice said it still expects its Riverina business to crop 450,000 “paddy” tonnes of rice or more when the harvest season starts in March, ten times the previous year.

Related Companies

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Sales Intelligence: A Program To Accelerate Sales

The dynamics of B2B (Business to business) sales have rapidly changed over the last few years, especially during and post covid and will continue to do so. Some prominent shifts include, B2B organizations are switching to digital channels to drive customer engagement, more and more B2B organizations adopting to hybrid sales model and therefore programs such as sales intelligence are gaining traction.   As per recent sales enablement collective 2022 report, 95% of survey respondents have a dedicated  enablement team at their company, and 79% say enablement is a strategic part of their business This paper offers guidance as to what we at GlobalData think are important elements of any sales  intelligence program and KPIs to measure the success of such programs.   The white paper covers:
  • Changing B2B sales landscape and new challenges for sales executives
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  • How can sales intelligence benefit sales & marketing?
  • What are the must-have KPI’s to measure the success of sales intelligence programs?
by GD50 Custom
Enter your details here to receive your free Whitepaper.

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